ANTD.VN - HoREA continues to propose to completely abolish the credit tightening regulations in Circular 06, and at the same time allow banks to buy bonds for the purpose of debt restructuring.
Ho Chi Minh City Real Estate Association (HoREA) has just expressed its joy because the State Bank has just issued Circular 10/2023/TT-NHNN suspending the implementation of some provisions of Circular 06/2023/TT-NHNN to improve access to credit for businesses.
However, this Association continues to request the State Bank to consider amending and supplementing a number of other regulations.
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HoREA proposes to completely remove credit tightening regulations in Circular 06 |
In particular, firstly, regarding the ratio of short-term capital for medium and long-term loans, the Association proposes to amend and supplement Point d, Clause 5, Article 16 of Circular 22/2019/TT-NHNN (amended and supplemented in Article 1 of Circular 08/2020/TT-NHNN) in the direction of extending by 12 months.
According to HoREA, in just over a month (October 1, 2023), credit institutions must comply with the maximum ratio of short-term capital used for medium- and long-term lending of 30%. The Association proposes to postpone the application of this ratio to October 1, 2024.
Second, the Association proposed that the State Bank consider "removing" point a, clause 8, Article 4 of Circular 16/2021/TT-NHNN to allow credit institutions to purchase corporate bonds for the purpose of restructuring their own debts.
According to HoREA, this amendment is to ensure consistency and consistency with Clause 2, Article 1 of Decree No. 65/2022/ND-CP (amending Clause 2, Article 5 of Decree 153/2020/ND-CP) allowing "2. The purpose of issuing bonds is to implement investment programs and projects, restructure the enterprise's own debt or the purpose of issuing bonds according to the provisions of specialized laws".
Third, although Circular 10 temporarily suspends the implementation of some regulations prohibiting lending, the Association recommends that the State Bank abolish these regulations.
The Association recommends that the State Bank continue to review and consider amending and supplementing a number of "inappropriate" regulations in Circular No. 06/2023/TT-NHNN that businesses, Associations and experts have proposed, because Circular 10/2023/TT-NHNN dated August 23, 2023 of the State Bank only "suspended the implementation of Clause 8, Clause 9 and Clause 10, Article 8 of Circular No. 39/2016/TT-NHNN (supplemented by Clause 2, Article 1 of Circular No. 06/2023/TT-NHNN) from September 1, 2023 until the effective date of the new legal document regulating these issues", but at present there is no "legal document" on amending, supplementing or abolishing these regulations.
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